Meta Directors, Shareholders Settle Privacy Suit
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ABP News on MSNMeta's $8-Billion Legal Drama Ends Quietly: Zuckerberg, Investors Strike Deal Over Facebook OversightMeta has reached a confidential settlement with shareholders just before a major trial over Zuckerberg’s power and board oversight was set to begin, ending a legal fight over Facebook governance.
An $8 billion US trial by Meta Platforms shareholders against Mark Zuckerberg and other current and former company leaders kicks off on Wednesday over claims that they illegally harvested the data of Facebook users in violation of a 2012 agreement with the U.
A settlement was reached on Thursday in a class-action lawsuit against Meta CEO Mark Zuckerberg and other current and former leaders, according to NPR. Investors alleged that Meta failed to disclose the risk that Facebook users’ personal data could be misused by Cambridge Analytica,
Meta Platforms is embroiled in an $8 billion trial over allegations of unlawfully harvesting Facebook user data in violation of a 2012 FTC agreement. Shareholders demand reimbursement from company leaders,
Meta executives including CEO Mark Zuckerberg and former Chief Operating Officer Sheryl Sandberg will appear before a US corporate law court this week as shareholders claim board failures resulted in billions of dollars in penalties following the 2010s Cambridge Analytica scandal, the Financial Times reported.